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Property profile & analytics
FOR LEASE
Retail residential properties
768 Flatbush Ave Brooklyn, NY 11226
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-2147566
For Lease
1 / 3
$1,475,000
768 Flatbush Ave, Brooklyn, NY 11226
View Listing →
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1925
Total area
4,700 SF
Lot
0.06 ac (2,725 SF)
Zoning code
R7A
APN
05063-0048
UPID
US63-2147566
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Close Out Heaven Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.48M
CAP Approach
CAP
$1.61M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.48M
Owner & transaction history
235 Bb LLC · 1 yrs held
235 Bb LLC
since 2024
Last sale
$1.5M
2 recorded transactions
Zoning & alternative use
R7A · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.4M
+38.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,475,000
ML approach
$1,475,000
CAP Approach
CAP Return
Estimation
6%
$1,740,000
6.5%
$1,605,000
7%
$1,490,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,695,000
Current use
WAREHOUSE, STORAGE
$2,355,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$1.48M
Range $1.33M – $1.62M · ±10% · vs last sale $1.48M (Dec 12 2024)
Last sale anchor
$1.48M
Dec 12 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$314 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$28,951
Tax year 2024
Assessed value
$292,050
Assessed 2024
Previous assessed
$281,250
+3.8% YoY
Effective rate
9.91%
On assessed value
Assessed land
$116,550
Assessed improvement
$175,500
Land market value
$259,000
Improvement market value
$390,000
Total market value
$649,000
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Lease
Year built
1925
Heating
NONE
Buildings
1
Stories
3
Units
1
Total area
4,700 SF
Lot
0.06 ac (2,725 SF)
Zoning code
R7A
APN
05063-0048
UPID
US63-2147566
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7A · Brooklyn, NY
Zoning R7A · permitted uses
R7A · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$2.4M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Heating
NONE
Stories
3
Buildings
1
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
235 Bb LLC
Entity
Free & Clear · 1 yrs held
Mailing address
42 W 48TH ST, NEW YORK, NY 10036-1701
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2024
$1,475,000
235 Bb LLC
Eljay Realty, LLC
Deed
—
Sep 24, 1997
—
Eljay Realty LLC
Elo,jack
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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